When comparing dm-crypt via LUKS vs VeraCrypt, the Slant community recommends VeraCrypt for most people. In the question“What are the best file encryption tools?”VeraCrypt is ranked 2nd while dm-crypt via LUKS is ranked 8th. The most important reason people chose VeraCrypt is:

Veracrypt is an on-the-fly encryption tool. Meaning that it decrypts files only when they are needed and that the files are otherwise kept encrypted the rest of the time.

Pro

Native Linux support

Pro

Support for multiple keys/passwords

If several people should be able to decrypt a volume, each one can have their own password/key.

Pro

Free and open-source

Open-source for cryptography is a requirement, not just a bonus.

Pro

On-the-fly encryption

Veracrypt is an on-the-fly encryption tool. Meaning that it decrypts files only when they are needed and that the files are otherwise kept encrypted the rest of the time.

Pro

Free

This project is free and users are encouraged to donate something to keep the project going.

Pro

Several encryption cyphers supported

Supports AES, TwoFish and Serpent encryption cyphers.

Pro

Support for AES code in CPU

Most Intel and AMD (and possibly other) CPUs have AES specific instruction sets, so you needn't task the CPU during the en/de/crypt process when using AES, VC throughput is as if the code were in 'firmware'; you can see the effect if you choose anything but AES as your cipher.

Pro

Regular updates

Veracrypt is in active development with constant and regular updates and several external audits in the planning stages.

Pro

Multiplatform

Veracrypt is supported on MacOS, Linux and Windows.

Pro

Built on top of TrueCrypt

Pro

Open source code

The source code is open to review. It has already had a security audit and it did well, with small problems fixed by authors within days of being reported. Its predecessor source, Truecrypt, had a detailed audit that found its capabilities sound, completed (ironically) shortly before the TC folks decided to call it quits. Anyone skeptical or curious about what it does can see how it works, at the gut level.

Pro

Easy to use

It's easy to understand and use.

Cons

Con

Requires advanced command line knowledge

In order to use dm-crypt you need to have advanced knowledge of Linux and of the command line, as well as the Linux filesystem.However, most distros support easy creation of LUKS-encrypted drives when installing Linux transparently.

Con

Not plug and play

Requires some tech savvy, so some skill is required, particularly if things go wrong. In the Windows world different UEFI implementations can cause problems in one, not in others, and the solutions are not uniform between issues. For Bitlocker, Microsoft worked out issues with vendors before hand, so if Windows installs and works without bitlocker, it will likely work with it.

Con

The UI is not compliant with the Mac

This program does not use Mac UI standards. Nevertheless, it is acceptable.